CHAPTER 10 Property, Plant, and Equipment and Intangible Assets: Acquisition 565 Prepare a schedule analyzing the changes in each of the plant assets during 2018. with detailed supporting computations (AICPA adapted) P 10-4 Tntangibles - L010-1, LO10-3 The Horstmeyer Corporation commenced operations early in 2018. A number of expenditures were made during 2018 that were debited to one account called intangible assel. A recap of the S144,000 balance in this account at the end of 2018 is as follows: Date Transaction Amount 2/3/18 State incorporation fees and legal costs related to organizing the corporation $ 7.000 3/1/18 Fire insurance premium for three-year period 6.000 3/15/18 Purchased a copyright 20.000 40,000 4/30/18 Research and development costs 6/15/18 Legal fees for filing a patent on a new product resulting from 3.000 an R&D project 12.000 9/30/18 Legal fee for successful defense of patent developed above 40,000 10/13/18 Entered into a 10-year franchise agreement with franchisor 16.000 Various Advertising costs $144,000 Total Prepare the necessary journal entry to clear the intangible asset account and to set up accounts for separate intan gible assets, other types of assets, and expenses indicated by the transactions how All of the expenditures were made in cash. umes in connection with the devel